Streetbeat News

Earnings

ELEV

Elevation Oncology (NASDAQ:ELEV) reported a Q1 2024 GAAP EPS loss of $(0.23), missing the $(0.20) estimate by 15%. However, this represents a 68.06% improvement over the $(0.72) loss per share from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:24 pm

WULF

TeraWulf Inc. (NASDAQ:WULF) announced its April 2024 production and operations update, revealing it self-mined 348 Bitcoin with an 8.0 EH/s hash rate and 98% utilization. The company is nearing completion of Building 4 at Lake Mariner, aiming for a 10.0 EH/s capacity by mid-2024. Operational improvements include replacing older miners with 3,000 S19k Pro miners, increasing the total to 4,100. Despite a 5% decrease in production from March, transaction fees post-Bitcoin halving mitigated revenue losses. TeraWulf is also advancing a high-performance computing/AI project at Lake Mariner.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:20 pm

W

Wayfair's stock price increased following the announcement of their Q1 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:19 pm

AAPL

QQQ

SPY

Apple, Inc. (NASDAQ:AAPL) is set to announce its FY 2024 Q2 results amid expectations of a revenue decline and flat bottom-line performance compared to the previous year. The company faces challenges from a weak iPhone uptake, competition from Huawei, and a lackluster iPhone 15 upgrade cycle. Despite a 16% drop in shipments and a decrease in market share, analysts from Morgan Stanley and bullish analyst Daniel Ives predict slight improvements and emphasize the potential impact of an AI-driven iPhone 16. Upcoming events and the company's AI strategy could influence stock performance. Apple's stock has seen a 1.09% increase in premarket trading but has fallen 12% year-to-date, contrasting with gains by QQQ and SPY ETFs.

Portfolio Pulse from Shanthi Rexaline

May 02, 2024 | 12:19 pm

WOLF

Wolfspeed's shares dropped following disappointing Q3 revenue results. Additionally, TD Cowen downgraded the stock from Buy to Hold, and Mizuho reduced its price target from $30 to $27.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:19 pm

SILC

Silicom projects Q2 2024 revenues to be between $15M-$17M, with an anticipation of easing customer inventories and global economic headwinds, leading to a stronger H2 and a total FY24 revenue of approximately $70M.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:17 pm

DASH

ETSY

FRSH

FSLY

Etsy, Inc. reported lower-than-expected Q1 financial results, leading to a 13.2% drop in pre-market trading. Other companies like Fastly, Freshworks, Remitly Global, DoorDash, CytomX Therapeutics, Wolfspeed, Qorvo, Paycom Software, Hudson Technologies, Appian Corp, Zillow Group, Schrodinger, Prudential Financial, and eBay also saw declines in pre-market trading due to various reasons including disappointing financial results, weak guidance, and CEO transitions.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 12:17 pm

RELY

Remitly Global's stock is trading lower following the announcement of mixed financial results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:17 pm

SBUX

Starbucks Corporation (NASDAQ:SBUX) found a surprising success in its new Lavender Latte, which resonated well with Gen Z and Millennial customers, providing a boost amid otherwise disappointing Q2 results. CEO Laxman Narasimhan highlighted the drink's popularity, comparing it to the iconic Pumpkin Spice Latte, and hinted at future 'texture-based innovations'. Despite a 2% year-over-year drop in revenue to $8.6 billion, a 4% decline in global comparable store sales, and a 7% decrease in overall earnings per share, the company continues to innovate, as seen with its partnerships and new flavor introductions. Starbucks' stock experienced a significant decline in after-hours trading, dropping 11.57% to $78.25.

Portfolio Pulse from Kaustubh Bagalkote

May 02, 2024 | 12:16 pm

SILC

Silicom (NASDAQ:SILC) reported Q1 adjusted losses of $(0.38) per share, missing the $(0.23) estimate, with sales of $14.37M also missing the $16.73M estimate. This represents a significant decrease from the same period last year, with earnings down 162.3% and sales down 61.36%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:16 pm